Pharmacies, Physician's Clinics and Others Use Pharmacy Wholesalers to Deal With the Rising Cost of Pharmaceuticals
The price of pharmaceuticals dropped during the recession but rose sharply in 2012, when costs jumped 3.6 percent – twice the 1.7 percent inflation rate. Experts predict the cost of specialty drugs to jump 67 percent by 2015; three of the four costliest prescription therapy classes will be specialty drugs, such as anti-inflammatory, cancer, and arthritis medications. Hepatitis C drug spending will likely outpace all other therapy classes, quadrupling before 2017. Prescription drugs will account for more than 10 percent of national health expenditures by 2021. People in the United States pay more for pharmaceuticals than patients anywhere else in the world and they demand quality and availability. The average American spends $1,000 per year on prescription drugs each year, and a growing army of senior citizens pay even more. The price tag is not the only thing going up – the number of prescriptions rose 43 percent between 1999 and 2011, outpacing population growth of 9 percent; this will certainly rise as baby boomers move into retirement age. How Medical Professionals Deal with Rising Costs Pharmacies, physician clinics and others in healthcare must address these rising expenditures and increasing demand now in order to continue providing safe, effective and affordable drugs to the patients they care for in the future. One of the most cost-effective ways to manage costs is to develop a relationship with quality pharmaceutical wholesalers. Purchasing wholesale allows clinics, hospitals, and pharmacies to find FDA approved medications, narcotics, and related products with ease. Pharmacies that purchase wholesale medications enjoy lower costs and spend less time restocking shelves. Generics drugs are an affordable, tested-safe alternative to brand name pharmaceuticals. Generic pharmaceuticals save U.S. consumers more than a billion dollars every other day. In general, generic drug use has saved the U.S. healthcare system more than a trillion dollars between the years 2002 and 2011. Many pharmaceutical distributers offer generics.
Physicians, pharmacists, and others in the healthcare vertical must consider other cost containment measures, such as formulary management, disease management programs, and drug utilization reviews. Some pharmaceutical companies offer rebates for inclusion on formularies; others participate in pharmacy networks to provide discounts for generic and brand name drugs. Doctors, pharmacists, nurses, and other healthcare providers can improve the cost effectiveness of prescription drugs by helping patients understand the best way to use these medications. Some professionals estimate that patients take prescription drugs correctly only about half the time, and a drug is only cost effective if the patient uses it. For example, someone who does not take his anti-hypertensive will likely experience a rise in blood pressure and, as a result, suffer a serious health crisis that requires drugs that are even more expensive. Pharmacies, physician clinics, and other medical professionals always seek to provide quality care to the patients they serve. These healthcare providers must now deal with the rising cost of pharmaceuticals with pharmaceutical drug wholesalers, generic drugs, and patient education if they hope to continue prescribing cost-effective drugs to a growing population in the future. For more information visit us at http://www.aplususapharma.com.